지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
오류제보하기
The US subprime crisis transmitted to other countries and grew into the recent global financial crisis. In this paper, I investigate how global banks responded to the US subprime crisis and what their role was in the international shock transmission. First, I found that, after the subprime crisis, global banks dramatically contracted their cross-border claims, and European banks as well as US banks led the declined lending activity to foreign countries. I also found that the banking shocks in the United States captured by increased non-performing loans as well as declined capital ratio transmitted throughout foreign economies via international lending activity by global banks. In addition, this study suggests that US bank claims to foreign markets have been mainly driven by supply factors associated with the US subprime crisis, rather than by cyclical fundamentals in local economies as well as by trade linkage between US and local economies. This analysis suggests that we need to improve cross-border supervision of globally active banks and enhance coordination among national supervisors.
목차
Ⅰ. Introduction
Ⅱ. Patterns in Cross-Border Claims of Global Banks
Ⅲ. Model Specification
Ⅳ. Estimation Results
Ⅴ. Concluding Remarks
References
Abstract
참고문헌 (19)
참고문헌 신청
1. [학술지(정기간행물)] - Bertaut C. C / 2009 / The Financial Crisis and U.S / Cross-Border Financial Flows”, Federal Reserve Bulletin 95 : 147 ~ 167
2. [보고서] - Cetorelli, N. / 2009 / Globalized Banks: Lending to Emerging Markets in the Crisis
3. [학술지(정기간행물)] - Choi, I. / 2002 / Instrumental Variables estimation of a Nearly Nonstationary, Heterogeneous Error Component Model / Journal of Econometrics 09 : 1 ~ 3
4. [학술지(정기간행물)] - De Hass, R. / 2010 / Internal Capital Markets and Lending by Multinational Bank Subsidiaries / Journal of Financial ntermediations 19, : 1 ~ 25
5. [단행본] - Eichengreen, B. / / Contagious Currency Crises: Channels of Conveyance”, in:Changes in Exchange Rates in Rapidly Development Countries / University of Chicago Press, Chicago : 29 ~ 56
2. [보고서] - Cetorelli, N. / 2009 / Globalized Banks: Lending to Emerging Markets in the Crisis
3. [학술지(정기간행물)] - Choi, I. / 2002 / Instrumental Variables estimation of a Nearly Nonstationary, Heterogeneous Error Component Model / Journal of Econometrics 09 : 1 ~ 3
4. [학술지(정기간행물)] - De Hass, R. / 2010 / Internal Capital Markets and Lending by Multinational Bank Subsidiaries / Journal of Financial ntermediations 19, : 1 ~ 25
5. [단행본] - Eichengreen, B. / / Contagious Currency Crises: Channels of Conveyance”, in:Changes in Exchange Rates in Rapidly Development Countries / University of Chicago Press, Chicago : 29 ~ 56
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UCI(KEPA) : I410-ECN-0101-2013-326-000656475